PERSONAL LOANS PROGRAM
The Personal Loan Program offers short-term loans to support people with unexpected personal expenses they can’t meet using their regular income or savings.
WHO’S ELIGIBLE?
Regular meeting attendees aged 18 and over who are in financial difficulty and may not be able to access reasonably-priced credit.
WHAT HAPPENS NEXT?
The Loans Committee will review it.
- If funds are available and your application meets our Loan Guidelines the Loans Committee will ask you for detailed financial information.
- If your financial information meets our guidelines, we’ll invite you to an interview to discuss loan terms, to work out a repayment plan.
- If your application is successful we’ll ask you to sign a promissory note.
Successful applicants have access to ongoing support which may include business coaching, periodic cost accounting reviews, mentoring and budgeting.
If you have any questions or comments please write to:
LOAN GUIDELINES
- Loan terms and conditions are case-based on the type of loan and the borrower’s circumstances
- Maximum loan is $2000
- There is no administration fee or interest charge.
- Loans are usually for a year and based on an agreed repayment plan.
- Loan applications may be screened for credit-worthiness.
- Applicants may be interviewed by members of the Loan Committee.
Still have questions? Please contact info@LifeLineEdmonton.com
